CardWatch: New card fraud reporting process will cut bureaucracy

The new rules on reporting credit and debit card fraud will make it easier for victims of such crimes to report them, according to an industry body.

CardWatch claim the new regulations will “cut bureaucracy” and allow for less red-tape in the reporting process.

This should make it more efficient for investigators, the body says, who will be able to access all the latest information on a case.

Under the new rules, the victim of a fraud reports the incident to their lender, who in turn contacts the police.

Previously, the victim had to contact both heir lender and the police themselves, then co-ordinate investigative efforts between the two.

Mark Bowerman, spokesperson for CardWatch, said: “This initiative is about making the system more efficient and joined up – the way it was required a lot of unnecessary bureaucracy.”

Card Watch is a UK banking industry initiative, managed by UK payments association Apacs, that aims to raise awareness of card fraud prevention.

© Adfero Ltd

Leave a Reply

Your email address will not be published. Required fields are marked *